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Pension and Other Postretirement Benefits
 9 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Pension and Other Postretirement Benefits
Components of net periodic benefit cost (income) were as follows: 
 Pension BenefitsPostretirement Benefits
 Three months ended September 30,
(in thousands)2021202020212020
Components of net periodic benefit cost (income)    
Service cost$2,039 $2,402 $168 $150 
Interest cost2,016 2,194 75 108 
Expected return on plan assets(2,463)(2,577)— — 
Settlement expense531 1,241 — — 
Amortization of net loss (gain)845 1,356 (80)(241)
Amortization of prior service cost (credit)69 70 (35)(35)
Net periodic benefit cost (income)$3,037 $4,686 $128 $(18)
Components of net periodic benefit cost (income) were as follows: 
 Pension BenefitsPostretirement Benefits
 Nine months ended September 30,
(in thousands)2021202020212020
Components of net periodic benefit cost (income)    
Service cost$6,166 $7,180 $503 $450 
Interest cost6,161 7,244 226 324 
Expected return on plan assets(7,409)(8,382)— — 
Settlement expense2,068 5,091 — — 
Amortization of net loss (gain)2,961 3,663 (240)(725)
Amortization of prior service cost (credit)210 209 (103)(103)
Net periodic benefit cost (income)$10,157 $15,005 $386 $(54)
The non-service cost components of net periodic benefit cost (income) are included in other expense, net in the unaudited condensed consolidated statements of operations.
In the third quarter of 2021, the Company executed a buy-in policy contract with an insurance company which fully insures the benefits of one of its defined benefit pension plans outside the United States. The initial value of the insurance asset was equal to the premium paid to secure the policy (i.e., the fair value of the plan assets plus additional funding to execute the buy-in contract). As a result, the Company does not anticipate any further material contributions to the plan.